RECORDER REPORT

LAHORE: In a significant development towards indigenous hydropower resources, the construction work on the 4320 MW-Dasu Hydropower Project will commence within a week as the contractor for civil works has been mobilized to the project site.

This was stated by Pakistan Water and Power Development Authority (WAPDA) Chairman Lt Gen Muzammil Hussain (R), who visited the project to review progress on the preliminary works of infrastructure development in the project area and the resettlement activities leading towards socio-economic uplift of the local populace.

The chairman termed it a good omen for the hydropower potential of the country, saying this project is being constructed by leveraging WAPDA’s financial strength. Out of US$4.2 billion required for completion of Stage-I of Dasu Hydropower Project, the World Bank is providing US$ 824 million while the rest is being arranged by WAPDA from various commercial sources as well as its revenue surplus.

He mentioned that WAPDA has successfully ventured into the international financial market last week on count of its own independent standing to secure US$350 million at a very competitive rate, unprecedented tenure of 10 years and a staggered draw down to suit the project’s financing requirements. This amount has been raised with a partial guarantee by World Bank and the remaining one by the Pakistan government. Apart from this, WAPDA had already arranged local financing worth Rs144 billion from a consortium of local banks for the project.

The 4320 MW-Dasu Hydropower Project is being constructed by WAPDA on River Indus upstream of Dasu Town in Kohistan District of Khyber Pakhtunkhwa (KP) Province. The project will be completed in two stages – each stage having a generation capacity of 2160 MW. Stage-I of Dasu Hydropower Project will be completed in almost five years and contribute more than 12 billion units per annum to the national grid. The Stage-II, after its completion, will also provide another nine billion units to the system every year.